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In its efforts to achieve one of the most important strategic goals in line with its future plans that aim at expanding cooperation, activate information exchange and increase services domain that come in the context of the mutual cooperation with the departments, bodies and institutions of the public and private sectors in Abu Dhabi in particular and in the UAE in general.
Abu Dhabi Securities Exchange concluded a service level agreement with the Statistics Center of Abu Dhabi. The agreement conclusion event was held at Abu Dhabi Securities Exchange’s headquarters in Abu Dhabi, and was attended by His Excellency Rashid Al Baloushi, CEO of Abu Dhabi Securities Exchange, Mr. Ahmad Al Shiba Al Shiryani, CEO of the Strategy and Institutional Excellence Sector, as well as a number of directors, officials and experts from both sides.
The conclusion of such an agreement comes to fulfill the goal of reinforcing and strengthening mutual cooperation and setting up a framework for the exchange and reissue of financial and statistical information and data, besides other works that are related to both sides’ work and level-specific services.
In this regard, His Excellency Al Baloushi emphasized Abu Dhabi Securities Exchange’s keenness to establish sustainable partnerships with the various governmental and private bodies and institutions in line with the Exchange’s strategy and its effective contribution to the realization of Abu Dhabi Government’s Future Vision 2030. Furthermore, Al Baloushi pointed out the Exchange’s continuous effort to cooperate with all partners to exchange expertise, competencies and latest technologies with them so as to provide such partners with all the support they need.
Al Baloushi added that “the importance of this agreement for Abu Dhabi Securities Exchange stems out from the fact that such agreement enhances the relationship between national institutions and introduces their missions and accomplishments. On the other hand, the Statistics Center of Abu Dhabi is the major source responsible for the development and organization of the statistical work in the Emirate of Abu Dhabi. In this regard, Al Baloushi emphasized the importance of the statistical data that this Center issues, being a major constituent used to build plans, decisions and policies. Moreover, he stressed the necessity of activating cooperation, the exchange of expertise, the strengthening of cooperation ties, and optimal investment in all resources, experiences and abilities on the institution level in the UAE.
The officials in Abu Dhabi Securities Exchange are very keen on familiarizing themselves with the statistical databases available at the Statistics Center, as well as getting to know how to achieve maximum mutual benefit in the current and future stages. This shall enable the concerned parties to become familiar and knowledgeable regarding the statistical world and the financial aspect. This way, they will be able to create scenarios that serve the analysis and establishment of policies in the economic field, as well as introducing them to the consequences of such policies and the changes that might take place in real life. They shall also become familiar with the Statistical Surveys Field Follow Up program which was developed by the Statistics Center. The Center was able to achieve its ultimate goal through this program which is the building of modern, effective and reliable financial and statistical databases that help decision makers manage a balanced and sustainable development process.
In addition to that, His Excellency stressed the importance of such information for the officials at Abu Dhabi Securities Exchange and the investors alike which would help them provide better services to the investors in the trading activity field, as well as enhance performance standards and development level which plays a major role in attracting investors based on the exchange of minute information and data between the Statistics Center and Abu Dhabi Securities Exchange.
On his part, His Excellency Batti Ahmad Al Qubaisi, the Director-General of the Statistics Center-Abu Dhabi, praised the signing of this agreement and pointed out the importance of the data that is provided by the Securities Exchange which he described as the economic thermometer of Abu Dhabi. He also emphasized the Center’s keenness to coordinate efforts and cooperation with all partners, whether they are governmental, non-governmental or research or academic institutions, as well as to work hard on the development of the units that are directly related to the statistical activities inside these bodies in order to create a more effective cooperation mechanism between the producers and users of data and statistics in the Emirate of Abu Dhabi. This is extremely important as it helps make the most of the Emirate’s statistical resources and build a comprehensive statistical system that complies with international best practices and competes with the world’s most advanced systems in terms of statistics quality and its connection with the users’ requirements.
It is also worth mentioning here that according to the agreement’s articles, the two sides shall present and approve a common collection of data exchange standards that are related to coordination, statistical significance and concepts, as well as data structures definitions.
